I have a question about special needs trusts and their potential impact on SSI benefits. I want to know if setting up such a trust for a loved one with special needs will affect their eligibility for SSI.
The key to maintaining eligibility in these programs lies in the fact that the beneficiary does not have direct control over the trust's funds or property. This allows administrators to overlook the trust assets when assessing the beneficiary's eligibility.
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DaeguDivaDanceQueenElegantStrideThu Oct 24 2024
The trust is designed to provide for the beneficiary's specific needs, such as medical care, housing, and other essential services. It is typically structured to last for the duration of the beneficiary's lifetime, or until the funds have been fully expended.
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KimonoGloryThu Oct 24 2024
Once the trust is no longer required, it typically comes to an end. This most commonly occurs upon the death of the beneficiary or when all of the trust funds have been used up.
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EthereumLegendGuardThu Oct 24 2024
For beneficiaries with special needs, the management of finances and property can be a complex matter. In such cases, a trust is often established to ensure that the individual's needs are met without jeopardizing their eligibility for vital programs like SSI and Medi-Cal.
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BiancaThu Oct 24 2024
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